What are the intangible attributes, or human resources, needed to complement these strategies?
Gaining knowledge of money saving strategies is an important step. But that knowledge is worth little without the following: • Desire to reduce spending and increase savings. • Self-discipline to follow through and use the strategies learned. • Wise decision making to keep your household on track. • Good planning to select and implement the strategies most useful for your household. 2.An established, sound savings program is a prerequisite for an investment plan. What are the characteristics of a sound savings program? A sound savings program that prepares you to invest should include the following: • Having an emergency fund equal to 3 to 6 months of expenses. • Saving on a planned, regular schedule. • Identifying SMART future financial goals that include a future date when needed and the anticipated cost. • Saving to purchase big-ticket items instead of buying on credit. • Saving to make a large down payment on items that must be purchased on credit. • Saving at least 10% of disposab
